Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,169 shares of the social networking company’s stock after selling 296 shares during the period. Meta Platforms comprises approximately 1.6% of Lake Street Private Wealth LLC’s holdings, making the stock its 10th largest holding. Lake Street Private Wealth LLC’s holdings in Meta Platforms were worth $11,736,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Meta Platforms in the 1st quarter worth approximately $44,000. Clear Investment Research LLC raised its holdings in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $39,000. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

META opened at $509.96 on Friday. The business’s 50-day moving average price is $482.42 and its two-hundred day moving average price is $458.78. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 1.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Equities analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on META shares. Royal Bank of Canada dropped their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Roth Mkm increased their target price on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. BNP Paribas started coverage on Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Jefferies Financial Group dropped their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $511.27.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at $35,190,573. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders have sold 251,905 shares of company stock valued at $123,528,726 in the last 90 days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.